What is WIA insurance?
Your employees are the heart of your company. What do you do if one or more employees become (long-term) disabled? The moment one of your employees becomes disabled, you are obliged as an employer to continue paying wages for the first two years. After two years, the employee will receive WIA benefits. You may consider taking out additional WIA insurance. But what exactly is WIA insurance? In this article on Alpina.nl , we will tell you more about taking out WIA insurance.
What is WIA?
WIA stands for Work and Income according to Labour Capacity Act. This is the law for disability. The moment your employee has been disabled for more than 2 years, the employer's mandatory wage payment stops. In that case, your employee falls under the WIA. He will then receive WIA benefits from the UWV.
What is WIA insurance?
If your employee ends up in the WIA after two years of salary continuation, he will receive statutory WIA benefits from the UWV. As an employer, you can also take out WIA insurance for your employees. WIA insurance is a supplement to the WIA benefit your employee receives in the event of long-term disability. By taking out WIA insurance, you actually provide an additional financial safety net for your staff.
WIA insurance: WGA and IVA
The Work and Income (Ability to Work) Act consists of two types of benefits: the WGA (Work Resumption of Partially Disabled Workers) and the IVA (Inkomensvoorziening Volledig Arbeidsongeschiktten).
- Work Resumption Partially Disabled (WGA).
Employees receive WGA benefits if they have been sick for 2 years or more and are between 35% and 80% disabled. Even if your employee is more than 80% incapacitated for work, but with a chance of recovery, he will receive WGA benefits.
- Income Provision for the Totally Disabled.
The employee receives IVA benefits if he is completely and permanently disabled. In this case, the employee can hardly work, if at all, and there is a very small chance that he will recover. The disability percentage is more than 80%.
Am I required to purchase WIA insurance?
No, as an employer you are not legally required to take out WIA insurance. You are free to decide whether or not to offer WIA insurance to your staff. However, a number of collective bargaining agreements do stipulate that taking out WIA insurance is mandatory. You can offer WIA insurance collectively. Your employees can then decide for themselves whether or not they want to participate in the insurance.
Taking out WIA insurance? Request a quote directly on Alpina.nl
WIA insurance reduces your employee's risk of financial hardship. Therefore, WIA insurance is often seen as a good fringe benefit and a sign of good employment practices. Before you take out such insurance, you will of course want to know what you will soon pay in premiums. At Alpina.nl , you can therefore request a no-obligation quote for WIA insurance. Based on a number of details about your organization, we can give you an accurate quote. Do you have any questions about WIA insurance? Then be sure to contact us! Our insurance specialists will be happy to help you.
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